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Exploring the impact of financial development on renewable energy consumption within the renewable energy-environmental Kuznets curve framework in Sub-Saharan Africa Prempeh, Kwadwo Boateng; Kyeremeh, Christian; Danso, Felix Kwabena; Yeboah, Samuel Asuamah
International Journal of Renewable Energy Development Vol 13, No 5 (2024): September 2024
Publisher : Center of Biomass & Renewable Energy (CBIORE)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61435/ijred.2024.60339

Abstract

Renewable energy usage is deemed a feasible panacea to environmental degradation and energy poverty. In pursuit of carbon neutrality, nations are obligated to formulate strategies that bolster renewable energy initiatives following the Sustainable Development Goals of the United Nations. Given this, this article scrutinises the impact of financial development on the advancement of renewable energy consumption within the renewable energy- environmental Kuznets curve (REKC) framework while controlling for foreign direct investment (FDI), trade openness, governance and urbanisation using a panel of 38 Sub-Saharan African (SSA) nations from 2002-2019. The empirical findings based on the panel corrected standard error (PCSE) and the Feasible Generalized Least Squares (FGLS) models validated the REKC hypothesis for renewable energy consumption in the SSA region. Financial development, economic growth, trade openness, governance, and urbanisation have a substantial and detrimental impact on renewable energy consumption, whereas FDI has a neutral effect. The Dumitrescu-Hurlin causality tests demonstrate a bidirectional (feedback) causality between renewable energy consumption and all its determinants except for trade openness, where a unidirectional causality from renewable energy consumption to trade openness was established. Given these insights, our paper adds to empirical literature and provides incisive suggestions for policy formulation. 
Modelling inflation-interest rate nexus for Ghana Yeboah, Samuel Asuamah
International Journal of Financial, Accounting, and Management Vol. 2 No. 3 (2020): December
Publisher : Goodwood Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/ijfam.v2i3.257

Abstract

Purpose: The research assesses the interest rates-inflation association in the case of Ghana between 2007 and 2013. Monthly and quarterly data were used. Research Methodology: The model of the vector error correction and Johansen were used to investigate the long-term and short-term association in the model estimated respectively. The vector autoregression (VAR) test was used to model the joint dynamics between the variables. GRETL software was used in these tests. Granger predictive test was done with the EViews software. Results: The findings of the result confirm both long-run and a short-run association in the model and as well as neutral granger predictive causality. Limitations: Though the Johansen test is more appropriate for multivariate modelling, Engle-Granger test is considered to be more robust in most cases and as such future studies should consider using the two models in a comparative study to assess whether the current conclusions can collaborate. Contribution: The paper contributes to knowledge in the field of inflation and Interest rates association, in relation to the financial markets. Future Research models that account for structural breaks and panel works are worth doing. Keywords: Fisher effect, Treasury bill rates long run, Johansen model